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Buchheit Morning Comments from Dave Danker
USDA QUARTERLY STOCKS REPORT RELEASED TODAY AT 11:00 AM
Average trade estimates for US Quarterly Stocks are as follows:
Corn – 1.757 billion bushels (range – 1.665 to 1.862)
Soybeans – 202 million bushels (range – 158 to 256)
Grain Sorghum – 45 million bushels (range – 39 to 51)
Wheat – 2.398 billion bushels (range – 2.100 to 2.558)
Wheat feeding in the Plains may have added 100 to 300 million bushels to corn stocks.
Soybean crush and exports have been quite strong.
Grain Sorghum is competing with feed wheat and corn.
Wheat is very much over supplied all over the world. Our hope in the US is that we do have excellent quality wheat. Many other suppliers have marginal quality wheat.